Mitsui & Co., a major trading company, has revealed that it has reduced the asset value of two LNG = liquefied natural gas development projects in Russia by more than 80 billion yen in response to the tightening situation in Ukraine. ..
This was revealed by Mitsui & Co. on the 2nd in the financial results of the entire group for the year ending March.
According to this, the company is working on two LNG development projects, "Sakhalin 2" in the Far East of Russia in response to the situation in Ukraine and "Arctic LNG 2" in the Arctic Circle, which is aiming to start production by the end of next year. We reviewed the asset value.
And, in light of the increasing risk of business in Russia, the combined asset values of the two projects were reduced by 80.6 billion yen.
Furthermore, regarding "Arctic LNG2", it was revealed that a loss of 20.9 billion yen was recorded in the settlement of accounts last year due to the increase in the allocation of guarantees for loans.
On the other hand, the final profit of the entire group for the last year was 914.7 billion yen, 2.7 times the previous year, which was a record high due to the sharp rise in resource prices.
Kenichi Hori, president of Mitsui & Co., said at an online meeting on the 2nd, "I would like to cooperate with related parties in the LNG business in Russia while being aware of the important role of stable energy supply," and will continue to work in Russia. He expressed his intention to continue the business without withdrawing from the LNG development project.